NIFTY Detailed Analysis for next week The Profit Patterns Check Previous week analysis in my profile ---------------------------------------------------------------- OPEN INTEREST ANALYSIS
HIGH OI strike CE - 11500 HIGH OI Strike PE - 11000 (No change) Next week Range mostly will be in this range only 11000 to 11500 ----------------------------------------------------------------- CHANGE IN OPEN INTEREST ANALYSIS
High change in OI in CE strike as per Option data will act as a major Resistance R1- 11500 Strike R2- 11400 Strike (Near Strike From spot)
High change in OI in PE strike as per Option data will act as a major Support S1- 11300 (Near Strike From spot) S2- 11000
As Per Change in OI data 11500 is a strong Resistance and 11000 is a support. Resistance is clear than support as per OI data. Change in OI in PE side is less than CE side. ----------------------------------------------------------------- TECHNICAL ANALYSIS
-Day basis NIFTY formed Bearish Engulfing in 31st August -Weekly basis 11400 broked and sustained below this level showing bearish and formed Bearish Engulfing candle in weekly basis also ---------------------------------------------------------------- CONCLUSION Long If cross above 11700 will create the momentum to reach out 11900/12000 Short Already Nifty is in Bear mode can go short with the SL of 11700 may touch further 11150/11050 Strong support is near 11000 if 11k break and sustain below then 10800/10580 will be target trail sl based on that. ----------------------------------------------------------------- Dear followers, --Wherever I used the word sustain means not only buy or sell the levels on single spike, and enter immediately. --Sustain means price should need to spend on time in our buy or sell level, then only enter. --My preferable sustain price on time atleast 1hr close basis, sometimes i prefer 30mins,4hrs,day basis here everything is flexible not a rigid. --For Risk takers may choose any time frame under 1hr and others may choose 1hr and above time frame. --Still confusing, no issue don't hurry to execute the real trade just do it in paper as a paper trade then start with real one --Patience most important. Be patient and do the right things continuously the right one will come. ---------------------------------------------------------------- The Profit Patterns **Trade with your own risk. Views are Personal ----------------------------------------------------------------- LIKE & FOLLOW To SHOW YOUR LOVE & SUPPORT